Abstract: Determining actions associated with managing risk may comprise accessing an action mappings database that maintains information for managing a plurality of risk elements associated with supplying a product to an entity. That the action mappings database indicates that a first risk element of the plurality of risk elements should be identified in an identification phase of a vendor management process is determined. That the action mappings database indicates that the first risk element of the plurality of risk elements should be identified using a specified identification tool is determined. That the action mapping database indicates that at least one management action for reducing risk associated with the first risk element should be performed in a performance phase of the vendor management process is determined.

Abstract: Aggregating risk assessments associated with a vendor may comprise retrieving a transaction risk assessment for a first transaction. A transaction risk assessment for a second transaction is retrieved. A first response to a question for measuring risk to an entity is determined. The first response is associated with the first transaction and indicative of risk associated with engaging a vendor to supply a first product to the entity. A second response to the question for measuring risk to the entity is determined. The second response is associated with the second transaction and indicative of risk associated with engaging the vendor to supply a second product to the entity. The first response is aggregated with the second response to determine an aggregated response to the question according to a highest level of risk perceived by the vendor from outsourcing the first product and the second product to the vendor.

Abstract: Determining vendor management requirements comprises identifying a plurality of risk elements associated with a vendor that supplies one or more products to an entity. Any completed management actions for the vendor that mitigate risk associated with any of the identified risk elements are identified. A residual risk is determined for at least one of the identified risk elements according to a completed management action that reduces risk associated with the at least one of the identified risk elements. A determination is made as to whether to assign a vendor manager to the vendor according to the residual risk for the at least one of the identified risk elements.

Abstract: Managing a vendor may comprise identifying a product to be supplied to an entity. Risk elements associated with the product may be determined by performing a product category-driven risk assessment. A transaction level risk assessment is performed for one or more vendors proposed to supply the product to the entity. At least one management action is determined for reducing risk for a risk element of the plurality of risk elements associated with supplying the product to the entity by a selected vendor from a group comprising the one or more vendors proposed to the supply the product to the entity, wherein the at least one management action is determined according to results of the product category-driven risk assessment and the transaction level risk assessment for the selected entity. A vendor level quality plan for the selected vendor is created that comprises the at least one management action.

Abstract: Establishing a vendor profile may comprise identifying a plurality of risk elements associated with a vendor that supplies one or more products to an entity. Any completed management actions for the vendor that mitigate risk associated with any of the identified risk elements are identified. A performance requirement for the vendor associated with at least one of the products supplied by the vendor to the entity is identified. A performance measurement for the identified performance requirement for the vendor is identified. A residual risk for at least one of the identified risk elements is determined according to a completed management action that reduces risk associated with the at least one of the identified risk elements. A performance level is determined according to the performance requirement and the performance measurement. A vendor profile is created according to the identified risk elements, completed management actions, identified performance requirements, and performance measurement.